SEOUL - South Korea's Financial Services Commission (FSC) announced on Monday plans to introduce tax incentives aimed at encouraging local firms to boost their corporate value, thereby increasing investor returns.
According to Yonhap News Agency, this initiative is part of a broader strategy to address the "Korea Discount" phenomenon, where local stocks are perceived to be undervalued relative to their fundamentals.
The announcement came during a seminar led by FSC head Kim Joo-hyun, focusing on measures to motivate companies to enhance their valuation. The seminar served as a platform for introducing the Corporate Value-up Program's key aspects, developed in collaboration with related institutions, to stimulate dialogue and gather feedback from various stakeholders.
The FSC disclosed plans for a second seminar in May, aimed at refining these guidelines with input from the business community, with the goal of finalizing them within the first half of the year. Proposed incentives include tax benefits designed to encourage companies to voluntarily undertake value-enhancement efforts and to communicate their initiatives to the market.
Moreover, the government intends to develop a Corporate Value-up Index to assist institutional investors, including pension funds, in making informed investment decisions by identifying companies expected to increase their corporate value. The FSC also plans to introduce exchange-traded funds that track the Korea Value-up index, enhancing retail investors' access to these firms.
To support these initiatives, the Korea Exchange, Seoul's main stock market, will establish a dedicated department and advisory board focusing on the corporate value-up program. FSC Chairman Kim emphasized the importance of creating a positive feedback loop in the capital markets, where companies are rewarded for healthy growth and investors can profit and reinvest in the Korean market.
The FSC's efforts were further underscored by a meeting between First Vice Finance Minister Kim Byung-hwan and Ian Linnell, president of global credit appraiser Fitch Ratings. The discussions covered various strategies to advance South Korea's financial market, including the Corporate Value-up Program, which is seen as a pivotal measure to mitigate the Korea Discount issue.
SEOUL — French artist Philippe Parreno has introduced a groundbreaking exhibition at Seoul's Leeum Museum of Art, redefining the boundaries of art through an immersive experience. The exhibit, titled "Voices," marks Parreno's debut show in South Korea and features 40 works that span a variety of media, including video, sound, sculpture, and drawing.According to Yonhap News Agency, deputy director of the museum, during a press conference on Monday, the exhibition is designed to offer visitors a novel and engaging experience. Parreno's approach to the exhibition is likened to a concert, where the amalgamation of different art forms creates a cohesive and dynamic environment for the audience. "Voices" not only showcases a selection of Parreno's early and recent projects but also stands as the museum's most extensive exhibition dedicated to a single artist.
A unique aspect of "Voices" is the integration of a 13-meter sensory tower, commissioned by the museum and situated in its front garden. This tower, equipped with artificial intelligence (AI), monitors environmental factors such as sound, temperature, humidity, and pollution. Parreno explained that the data collected by the tower's 42 sensors is translated into a form of language, which is then given a "human voice" through collaboration with Korean actress Bae Doo-na. This voice activates Parreno's works, infusing them with life and creating a dynamic interaction between the art, the environment, and the visitors.
Among the installations, "My Room is Another Fish Bowl" invites contemplation on alternate realities through helium-filled balloons shaped like fish that float at various levels within the museum space. Another notable piece, "With a Rhythmic Instinction to be Able to Travel Beyond Existing Forces of Life," features 238 black and white drawings of a firefly that animates across a large LED screen, offering a time-based exploration of light and motion.
Parreno reflects on his artistic philosophy, noting his perception of art as inherently incomplete, a notion that aligns with the fluid and evolving nature of the "Voices" exhibition. The museum's deputy director, Kim, emphasized that the exhibition transcends the idea of a static display, achieving completion only through interaction with its visitors and the surrounding environment.
"Voices" is set to open on Wednesday and will continue through July 7, offering an unparalleled opportunity for visitors to engage with Parreno's visionary work and explore the limits of art and technology.